GBP/USD-Daily overvierw

Hello everybody!

-On a daily chart, we can see that the price formed bearish engulfing pattern, that is a very good sign that bears are going to take control over this pair.

-On a Stochastic indicator, we can see that the price is in an overbought area so we might expect bearish takeover.

-On a daily base, GBP is very weak while USD is a very strong currency at this moment, and on a weekly base, GBP is still weaker than USD.

-If GBP remains weaker than USD then we can expect bearish movement and IF GBP gains more power than USD then we can expect bullish movement,...-But I expect bearish movement over this pair.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.